Charles Schwab (NYSE:SCHW) Rating Increased to Strong-Buy at Truist Financial

Charles Schwab (NYSE:SCHW) was upgraded by research analysts at Truist Financial to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other analysts have also recently issued reports on SCHW. Raymond James reduced their target price on shares of Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Keefe, Bruyette & Woods increased their target price on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Citigroup cut their price objective on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Friday, September 27th. The Goldman Sachs Group increased their price target on Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Finally, Piper Sandler boosted their price objective on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.19.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $72.93 on Monday. The stock has a market cap of $129.79 billion, a PE ratio of 28.49, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99. Charles Schwab has a 12 month low of $59.67 and a 12 month high of $83.35. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The business has a fifty day simple moving average of $77.49 and a 200-day simple moving average of $70.63.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the company earned $0.77 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts anticipate that Charles Schwab will post 3.12 EPS for the current fiscal year.

Insider Activity at Charles Schwab

In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. The trade was a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the sale, the director now directly owns 551,329 shares in the company, valued at $39,783,900.64. This trade represents a 5.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 118,968 shares of company stock valued at $8,842,821 in the last ninety days. Insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

Several hedge funds have recently added to or reduced their stakes in the stock. Washington Trust Advisors Inc. increased its holdings in shares of Charles Schwab by 62.6% in the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 149 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Charles Schwab during the third quarter worth $25,000. Prospera Private Wealth LLC acquired a new stake in shares of Charles Schwab during the third quarter worth $31,000. Future Financial Wealth Managment LLC acquired a new position in Charles Schwab in the 3rd quarter worth $32,000. Finally, Hazlett Burt & Watson Inc. bought a new position in Charles Schwab during the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

About Charles Schwab

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.